The Fund has a mandate to provide direct lending for middle market and growth companies across Europe.
Sixth Street Partners LLC, a San Francisco, California-based global investment firm, announced today the raise of EUR 1.0bn (USD 1.2bn) in total capital commitments for its second Europe direct lending fund, Sixth Street Specialty Lending Europe II LP (the Fund), at final close.
Based on the target size of EUR 800mn, the Fund is oversubscribed by 25%. The Fund is 25% bigger than its predecessor fund, which was closed at EUR 800mn
The Fund has a mandate to provide direct lending for middle market and growth companies, with an enterprise value between EUR 50mn and EUR 1.5bn, across Europe. The Fund to target investments that are a first lien, floating rate, and call-protected, with firm covenants, and other lender protections.
Pennsylvania Public School Employees’ Retirement System (PSERS) is the Fund’s one of the anchor LPs, according to AnalyzeMarkets Data.
“Our business in Europe keeps growing as more companies and management teams recognize the breadth and capabilities of the full Sixth Street platform,” said Michael Griffin, Partner at Sixth Street, who leads the Specialty Lending team in Europe.
Last August, AnalyzeMarkets reported: Global Investor Sixth Street Partners Collects USD 10bn in One of the Largest Pooled Funds
Founded in 2009 as TPG’s dedicated global credit and credit-related investing platform, Sixth Street Partners announced to become independent from TPG, in May last year.
Sixth Street has over USD 50bn in assets under management and committed capital.
In April last year, AnalyzeMarkets reported Macquarie-led consortium acquires an 88% stake in Australia’s data center platform AirTrunk, from Goldman Sachs and Sixth Street, for USD 1.6bn.
Macquarie-Led Consortium Acquires 88% Stake in Aussie Data Center Platform AirTrunk for USD 1.6bn
Last August, NYSE-listed Biohaven Pharmaceutical Holding Company announced the USD 500mn non-dilutive term loan financing facility from Sixth Street.
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